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Unemployment has hit a new high in the United States. Over fifteen million people are looking for work with the jobless rate hitting 10.2% in October. That figure is the highest in over twenty-five years. Although job loss is deep, slow month on month, the US President Barack Obama is calling it a sobering1 reminder2 of the challenges facing the US economy.
A tiny group of protestors has welcomed the G20 Finance3 Ministers to St Andrews in Scotland. They’re meeting to follow up on talks in September aimed at pulling the world economy out of a slump4. Ahead of the meeting, the British Chancellor5 has warned of a decade of low growth and high unemployment.
Those jobless figures put a downturn on Wall Street. The Dow’s just in the positive, up 17 points. Similar figures for the other indices. Shares in Europe also fell after the US jobs figures were released, although markets did recover as the day went on. London’s FTSE gained one third of a percent with British Airways’ announcement that it’s cutting 1,200 jobs, giving the market a kick alone. A slower day in Germany, the DAX picked up just 7 points. Australia closed the week on a high with both the majors closing up close to 2 %. And the dollar is back up over ninety-one US cents.
That’s ABC Business News.
1 sobering | |
有节制的; 清醒的,冷静的; 朴素的,柔和的; 持重的 | |
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2 reminder | |
n.提醒物,纪念品;暗示,提示 | |
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3 finance | |
n.财务管理,财政,金融,财源,资金 | |
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4 slump | |
n.暴跌,意气消沉,(土地)下沉;vi.猛然掉落,坍塌,大幅度下跌 | |
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5 chancellor | |
n.(英)大臣;法官;(德、奥)总理;大学校长 | |
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